"Transport economics is a branch of economics founded in 1959 by American economist John R. Meyer."
The study of transportation systems and their impact on the economy.
Demand and Supply Analysis in Transportation: An overview of the factors that affect the demand and supply of transportation services and the role of prices in equilibrating supply and demand in transportation markets.
Cost Concepts in Transportation: A discussion of the relevant costs in transportation, including fixed, variable, average, and marginal costs, and their implications for pricing and investment decisions.
Economic Regulation in Transportation: An examination of the rationale for and effects of economic regulation in transportation, including market entry barriers, rate regulation, and safety and environmental standards.
Market Structure and Competition in Transportation: A review of the different market structures in transportation, including monopoly, oligopoly, and perfect competition, and their implications for pricing, profitability, and efficiency.
Transportation Networks and Congestion: An analysis of the properties of transportation networks, including capacity, flows, and congestion, and the effects of pricing, investment, and regulation on network performance.
Transportation and the Environment: A discussion of the environmental impacts of transportation, including air and water pollution, greenhouse gas emissions, and the economics of environmental regulation and policy.
Transportation Investment and Finance: An overview of the sources and uses of funds for transportation investment, including public and private financing, and the evaluation of investment projects using methods such as cost-benefit and multi-criteria analysis.
Transportation and Economic Development: A review of the role of transportation in promoting economic development, including the effects on employment, productivity, and regional growth, as well as the economic impacts of transportation investments and policies.
"Transport economics deals with the allocation of resources within the transport sector."
"Transport economics differs in that the assumption of a spaceless, instantaneous economy does not hold."
"The complications of network effects and choices between dissimilar goods make estimating the demand for transportation facilities difficult."
"The development of models to estimate the likely choices between the goods involved in transport decisions led to the development of an important branch of econometrics."
"Demand can be measured in number of journeys made or in total distance traveled across all journeys."
"Supply is considered to be a measure of capacity."
"The price of the good (travel) is measured using the generalised cost of travel, which includes both money and time expenditure."
"The effect of increases in supply are of particular interest in transport economics, as the potential environmental consequences are significant."
"Transport economics has strong links to civil engineering."
"Advance ticket purchase is often induced by lower fares."
"A single trip may require the bundling of services provided by several firms, agencies and modes."
"People and goods flow over networks at certain speeds."
"The networks themselves may or may not be competitive."
"Passenger-kilometers for public transport or vehicle-kilometers of travel (VKT) for private transport."
"The demand for transportation goods involves choices between dissimilar goods (e.g. car and bus travel)."
"The development of models to estimate the likely choices between the goods involved in transport decisions led to the development of an important branch of econometrics."
"The potential environmental consequences are significant."
"Demands peak."
"Daniel McFadden won a Nobel Prize for his work on discrete choice models in transport economics."